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Market news

26 April 2019
  • 06:20

    Japan resists U.S. pressure on FX in trade talks ahead of Abe-Trump summit

    Japan is resisting increasing U.S. pressure to link trade with currency issues as leaders of the two close allies are set to hold a summit in Washington on Friday, with trade and North Korea high on the agenda.

    Japanese ministers discussed trade and currency issues with their U.S. counterparts in Washington ahead of the summit between Prime Minister Shinzo Abe and President Donald Trump.

    Trump has made clear he is unhappy with Japan's trade surplus with the United States - much of it from auto exports - and wants a two-way deal to fix it.

    U.S. Treasury Secretary Steven Mnuchin had said that in future trade deals, including one with Japan, the US would like to include a provision to deter forex manipulation.

    Japan has resisted the idea, out of fear that it could tie its hands in monetary policy and any future attempts to keep an unwelcome yen spike in check.

    Currencies are a touchy issue for Japan because it has been criticized for keeping the yen low with massive monetary easing.

  • 05:59

    US GDP and CBR amongst market movers today – Danske Bank

    Analysts at Danske Bank, point out that in the US, we get the first estimate of GDP growth in Q1 today and will be a key release for the day.

    “We expect to see a more or less unchanged GDP number for Q1 relative to Q4, 2018. However, a lower than expected number will add to the downward pressure on US Treasuries as political pressure for a rate cut will increase. Today the Bank of Russia (CBR) will announce its monetary policy meeting decision on the key rate. In line with Bloomberg and Reuters consensus, we expect the CBR will keep the key rate unchanged at 7.75%. A softened ECB and Fed stance offers more room for the CBR to start cutting soon. We expect two 25bp cuts in 2019.”

  • 05:56

    Goldman Sachs: UK is likely to leave EU with modified version of current withdrawal agreement

    • The politics of Brexit have become more protracted

    • As a result, the side-effects on Brexit on the UK economy have intensified

    • Capex by businesses have been particularly subdued

  • 05:41

    Options levels on friday, April 26, 2019

    EUR/USD

    Resistance levels (open interest**, contracts)

    $1.1264 (2197)

    $1.1247 (522)

    $1.1218 (236)

    Price at time of writing this review: $1.1137

    Support levels (open interest**, contracts):

    $1.1119 (2741)

    $1.1102 (787)

    $1.1083 (2797)


    Comments:

    - Overall open interest on the CALL options and PUT options with the expiration date May, 3 is 89735 contracts (according to data from April, 25) with the maximum number of contracts with strike price $1,1350 (6908);


    GBP/USD

    Resistance levels (open interest**, contracts)

    $1.3202 (2109)

    $1.3107 (1668)

    $1.3023 (324)

    Price at time of writing this review: $1.2901

    Support levels (open interest**, contracts):

    $1.2860 (1986)

    $1.2826 (1293)

    $1.2785 (1702)


    Comments:

    - Overall open interest on the CALL options with the expiration date May, 3 is 24532 contracts, with the maximum number of contracts with strike price $1,3500 (2425);

    - Overall open interest on the PUT options with the expiration date May, 3 is 23136 contracts, with the maximum number of contracts with strike price $1,2750 (2380);

    - The ratio of PUT/CALL was 0.94 versus 0.94 from the previous trading day according to data from April, 25

    * - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

    ** - Open interest takes into account the total number of option contracts that are open at the moment.

  • 02:30

    Commodities. Daily history for Thursday, April 25, 2019

    Raw materials Closed Change, %
    Brent 73.54 -0.26
    WTI 65.04 -1
    Silver 14.92 0.07
    Gold 1277.106 0.13
    Palladium 1415.86 0.1
  • 01:30

    Australia: Producer price index, y/y, Quarter I 1.9% (forecast 2%)

  • 01:30

    Australia: Import Price Index, q/q, Quarter I -0.5% (forecast -1.1%)

  • 01:30

    Australia: Producer price index, q / q, Quarter I 0.4% (forecast 0.6%)

  • 01:30

    Australia: Export Price Index, q/q, Quarter I 4.5% (forecast -0.8%)

  • 00:30

    Stocks. Daily history for Thursday, April 25, 2019

    Index Change, points Closed Change, %
    NIKKEI 225 107.58 22307.58 0.48
    Hang Seng -256.03 29549.8 -0.86
    KOSPI -10.53 2190.5 -0.48
    FTSE 100 -37.62 7434.13 -0.5
    DAX -30.56 12282.6 -0.25
    Dow Jones -134.97 26462.08 -0.51
    S&P 500 -1.08 2926.17 -0.04
    NASDAQ Composite 16.67 8118.68 0.21
  • 00:15

    Currencies. Daily history for Thursday, April 25, 2019

    Pare Closed Change, %
    AUDUSD 0.70127 0.02
    EURJPY 124.313 -0.63
    EURUSD 1.11334 -0.19
    GBPJPY 143.928 -0.49
    GBPUSD 1.28935 -0.06
    NZDUSD 0.66244 0.5
    USDCAD 1.34823 -0.06
    USDCHF 1.01966 -0.06
    USDJPY 111.576 -0.43
26 April 2019
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